Located between Boston, MA and Providence, RI, the picturesque town of Bridgewater MA is an ideal community to live and raise a family. Home to a great school system, a thriving public university, and plenty of open space, home buyers have been flocking to this Plymouth County community of 25,000 people.
Those who wish to purchase a home in Bridgewater, MA, or any other community, should seek out a qualified mortgage lender for pre-approval at the very beginning of their search. Doing so will allow home buyers to know exactly how much they can afford to borrow, and will help narrow their search. With a mean price of nearly $380,000 for a single family home, it pays to know how much a bank is willing to lend before you start attending open houses.
Sellers also like to see prospective buyers come in with pre-approval from a trusted lender. If there are several competing offers on the table, sellers are more likely to choose the one from the buyer with backing from a bank. Knowing that the buyer has mortgage pre-approval gives the seller greater confidence that the deal will actually close or may even persuade them to accept an offer that is lower than one from a buyer without pre-approval. Home buyers with pre-approval also have greater leverage when negotiating a deal. Sellers are more likely to acquiesce to a buyer’s requests if they know the buyer is serious about the purchase, and a pre-approval form is a strong statement of purpose.
Getting pre-approved puts much of the needed financial paperwork in the hands of the lender, saving time once a home in Bridgewater, MA is identified and an offer is accepted. It also helps buyers have a better understanding of how much they need to allow in their budget for other expenses related to owning a home. Paying the mortgage is a major monthly bill, but taxes and insurance also need to be paid each year as well. The pre-approval form will help home buyers create a realistic and workable budget.
The town of Bridgewater MA has a long and storied history, and you could be part of its future. Getting pre-approved for a mortgage is a smart first step in your house hunting adventure. If you would like to get pre-approved for a mortgage, fill out this form for an appointment today!
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